SABMiller’s 4th largest investor rejects AB InBev offer

Updated - January 22, 2018 at 11:15 PM. | JOHANNESBURG, Oct 12

A file photo illustration of cans of Foster's beer, a SABMiller brand, shot in Sydney, Australia August 23, 2011. Anheuser-Busch InBev has approached rival SABMiller about a takeover that would form a brewing colossus which makes around a third of the beer consumed globally. Belgium's AB InBev - the world's biggest brewer - makes Budweiser, Stella Artois and Corona, while Britain-based SABMiller - the No. 2 player - owns Peroni, Grolsch and Pilsner Urquell beers. REUTERS/Daniel Munoz/Files TPX IMAGES OF THE DAY

The fourth largest shareholder in SABMiller on Monday rejected Anheuser-Busch InBev's $100 billion takeover offer as too low.

"We have confidence in the board and we will rely on their judgment. They have said the price is too low and we agree with them," said Dan Matjila, chief executive of Public Investment Corporation, which owns about 3 per cent of SABMiller.

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SABMiller’s 4th largest investor rejects AB InBev offer

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SABMiller’s 4th largest investor rejects AB InBev offer

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